WTM · XBRL financial data
White Mountains Insurance Group financial statements, every fiscal year
The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (WTM's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue | 1,181 | 945 | 1,158 | 2,167 | 2,240 | 3,735 |
| Cost of goods and services sold | 11 | 69 | 99 | 40 | 30 | 152 |
| General and administrative | 387 | 483 | 376 | 433 | 490 | 607 |
| Interest expense | 30 | 21 | 40 | 63 | 61 | 78 |
| Income tax expense (benefit) | (21) | 39 | 41 | (16) | 33 | 127 |
| Net income (loss) | — | (275) | 793 | 509 | 230 | 1,106 |
| Earnings per share, basic USD per share | 226.97 | (89.46) | 276.96 | 198.60 | 89.79 | 430.14 |
| Earnings per share, diluted USD per share | 226.97 | (89.46) | 276.96 | 198.60 | 89.79 | 430.14 |
| Weighted average shares, basic millions of shares | 3 | 3 | 3 | 3 | 3 | 3 |
| Weighted average shares, diluted millions of shares | 3 | 3 | 3 | 3 | 3 | 3 |
Balance sheet
CSVFiscal years (WTM's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 211 | 259 | 255 | 122 | 266 | 186 |
| Right-of-use asset | 38 | 42 | 25 | 20 | 33 | 51 |
| Goodwill | 526 | 646 | 177 | 169 | 439 | 614 |
| Total assets | 4,831 | 7,001 | 7,389 | 8,386 | 9,926 | 12,307 |
| Total liabilities | 1,014 | 3,296 | 3,454 | 3,824 | 4,795 | 6,051 |
| Retained earnings | 3,311 | 2,958 | 3,212 | 3,691 | 3,919 | 4,846 |
| Total stockholders' equity | 3,906 | 3,548 | 3,747 | 4,241 | 4,484 | 5,425 |
| Total liabilities and equity | 4,831 | 7,001 | 7,389 | 8,386 | 9,926 | 12,307 |
| Common shares outstanding (cover page) millions of shares | 3 | 3 | 3 | 3 | 3 | 2 |
Cash flows
CSVFiscal years (WTM's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | — | (275) | 793 | 509 | 230 | 1,106 |
| Stock-based compensation | — | 15 | 14 | 15 | 16 | 19 |
| Depreciation and amortization | 43 | 64 | 4 | — | — | — |
| Net cash from operating activities | (61) | 39 | 365 | 404 | 587 | 551 |
| Net cash from investing activities | 65 | (208) | 116 | (544) | (447) | (667) |
| Share repurchases | 79 | 100 | 616 | 33 | 8 | 203 |
| Dividends paid | 3 | 3 | 3 | 3 | 3 | 3 |
| Proceeds from long-term debt | — | 402 | 214 | 12 | 37 | 295 |
| Repayments of long-term debt | — | 120 | 57 | 26 | 38 | 18 |
| Net cash from financing activities | 49 | 218 | (345) | 7 | 4 | 36 |
| Net change in cash | 50 | 48 | 107 | — | — | — |
Compare with peers
SIC 6331 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 6331 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| White Mountains Insurance Group | 128 | 845 | (56)* | 2.4M | 2.3 quarters | 10-QJun 30, 2026 |
| KEMPER | 81 | 1,093 | 31* | 58.9M | — | 10-QJun 30, 2026 |
| Palomar Holdings | 63 | 314 | 167* | 26.3M | — | 10-QJun 30, 2026 |
| Selective Insurance Group | 0.9 | 1,326 | 367* | 59.0M | — | 10-QSep 30, 2026 |
| Rli | 46 | 477 | 195* | 91.7M | — | 10-QSep 30, 2026 |
| Hanover Insurance Group | 506 | 1,736 | 520* | 34.4M | — | 10-QSep 30, 2026 |
| Lemonade | 368 | 294 | (3.4)* | 77.4M | 110.8 quarters | 10-QJun 30, 2026 |
| Axis Capital Holdings | 1,038 | 1,790 | 878* | 71.7M | — | 10-QSep 30, 2026 |
| American Financial Group | 1,438 | 2,030 | 92* | 82.9M | — | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.